In a year when the real estate market was at a standstill for months due to COVID-19, total annual sales in the Fraser Valley still finished 12.4 per cent above the 10-year average due to unrelenting, pent-up consumer demand during the second half of 2020. In December, the Board’s Multiple Listing Service® (MLS®) processed a staggering 2,086 sales, the strongest December on record and 81.2 per cent above normal for the month. New listings in December, were the second highest on record at 1,502. By month’s end, active inventory finished below typical levels, at 3,949 units. The total sales volume for the year in Fraser Valley was 19,926; an increase of 28.7 per cent compared to 2019’s 15,487 sales and placing it fourth highest for annual sales since 2011. In 2020, sales of the three main residential property types were as follows: 8,176 single-family detached; 5,102 townhouses; and 4,357 apartments. Year-over-year, sales of detached soared by 41.7 per cent compared to 2019; townhome sales increased by 31.2 per cent and sales of apartments increased by 5.9 per cent.   Chris Shields, President of the Board, observes, “The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable. No one could have anticipated a six-month stretch like we’ve just experienced. Typical seasonal cycles did not apply, how we conduct business had to change to keep the public safe; and most unexpected, has been the unwavering demand for family-sized homes in our region and so far, there is no sign of it slowing down.”   A total of 31,693 new listings were received by the Board’s MLS® in 2020, an increase of 3.7 per cent compared to 2019. As with annual sales, 2020 was also the fourth highest year for new inventory for the Board in the last decade.   Baldev Gill, Chief Executive Officer of the Board, adds, “Although listing volumes appear healthy, our region’s current overall inventory is 28 per cent below normal. For those who have been thinking of selling but have held off due to the pandemic, the industry has mastered how to keep consumers safe using technology and strictly following provincial health guidelines. Ask your REALTOR® if now is a prudent time to list because the market currently is favouring sellers.”   MLS® HPI Benchmark Price Activity Single Family Detached: At $1,079,500, the Benchmark price for an FVREB single-family detached home increased 1.7 per cent compared to November 2020 and increased 13.3 per cent compared to December 2019. Townhomes: At $576,200, the Benchmark price for an FVREB townhome increased 1.1 per cent compared to November 2020 and increased 6.9 per cent compared to December 2019. Apartments: At $438,300, the Benchmark price for an FVREB apartment/condo increased 0.6 per cent compared to November 2020 and increased 4.7 per cent compared to December 2019.

As we put 2020 behind us and welcome the arrival of 2021, it’s time for new beginnings. January is a great time to reflect and make plans for the year ahead. Since many of us are spending more time at home, making it a comfortable place to live and work has become more important than ever.

Whether your New Year’s home projects include a major renovation or just cleaning out a closet, January is a good month to curl up by the fire, dream and make plans. To help, we’ve put together a few tips to create a cozy, calm and relaxing home.

Plan the year’s decorating and remodeling projects. Gather ideas, get estimates from contractors and make a plan for any home improvement projects, such as updating your kitchen, renovating your bathroom or finishing the basement.

Clean your pantry and refrigerator. Throw out expired ingredients, unhealthy food and leftovers. Keep fresh fruit and nutritious foods within easy reach.

1. Take down holiday decorations. Wrap your outdoor and indoor lights around a piece of cardboard to avoid tangling. For any decorations you did not use this past holiday season, consider donating them to save space for the items you really love and use.

2. Update (or create) your home inventory. Keep a record of your home’s furnishings and valuable possessions. If items are damaged or lost, you can use the inventory to submit an insurance claim to help recoup its replacement value. 

3. Organize files. Place instruction manuals and warranties into a folder for easy reference. Sort, file or shred other documents. The beginning of the year is also a good time to update your digital documents and records using a simple filing system.

4. Test carbon monoxide and smoke detectors. Press the test/reset button to check whether the detectors are operating as expected. Replace batteries or purchase a new detector, as needed.

5. Prepare for winter storms. Place flashlights and batteries in every room of your home in case a winter storm knocks out your power.

Once you complete a few of these items, you will gain a fresh perspective on all the exciting possibilities for your home (and yourself) in the New Year.